Alsea’s $500 Million Notes Offering

DLA Piper and Garrigues advised Alsea on the offering.
Skadden and Galicia advised the underwriters.

Alsea, S.A.B. de C.V., the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, executed its offering of $500 million senior notes due 2026.

The Senior Notes 2026 issuance is being performed pursuant to Rule 144A and Regulation S of the U.S. Securities Act.

BBVA Securities Inc., BofA Securities, Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., BCP Securities, LLC, MUFG Securities Americas Inc., Rabo Securities USA, Inc. and SMBC Nikko Securities America, Inc. acted as underwriters on the offering.

Alsea intends to allocate the net proceeds of the transaction to consummate a debt refinancing transaction that consists on the repayment of certain indebtedness of the issuer and its subsidiaries, and to pay fees and expenses incurred in connection with the offering of the notes and the debt refinancing transaction. Upon settlement of the issuance and consummation of the debt refinancing transaction, this transaction will allow Alsea to improve its maturity profile, rebalance its debt portfolio, as well as broaden its current investor base.

DLA Piper advised Alsea, S.A.B. de CV with a team including Raul Farías (Picture), Christopher C. Paci,  Gabriel de Corral, Xavier Mangino Dueñas, Edgar Romo, Javier Pichardini González, Elena Ibarrola, Adolfo Obregón Barrios, Nicolas Teijeiro and Marco D’Angelo.

Garrigues also advised Alsea in Spain.

Skadden, Arps, Slate, Meagher & Flom advised BBVA Securities Inc., BofA Securities, Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., BCP Securities, LLC, MUFG Securities Americas Inc., Rabo Securities USA, Inc. and SMBC Nikko Securities America, Inc. in US, with a team including Banking and Capital Markets partner Alejandro Gonzalez Lazzeri, associates Alejandro Ascencio Lucio and Jose Nicolas Perez Sierra, law clerk Elvira Perez and international visiting professional Gonzalo Robles; and Tax partner Alec Jarvis, counsel Nazmiye Gokcebay and associate Eric Giray.

Galicia advised BBVA Securities Inc., BofA Securities, Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., BCP Securities, LLC, MUFG Securities Americas Inc., Rabo Securities USA, Inc. and SMBC Nikko Securities America, Inc. with a team including Guillermo Pérez Santiago, José Alejandro Cortés Serrano and Lorena Kiehnle Barocio.

Involved fees earner: Marco D’Angelo – DLA Piper; Raúl Farías – DLA Piper; Elena Ibarrola – DLA Piper; Xavier Mangino – DLA Piper; Adolfo Obregon – DLA Piper; Christopher Paci – DLA Piper; Javier Pichardini Gónzalez – DLA Piper; Edgar Romo – DLA Piper; Nicolas Teijeiro – DLA Piper; José Alejandro Cortés Serrano – Galicia Abogados, S.C; Lorena Kiehnle B. – Galicia Abogados, S.C; Guillermo Pérez Santiago – Galicia Abogados, S.C; Alejandro Ascencio – Skadden; Eric Giray – Skadden; Nazmiye Gokcebay – Skadden; Alejandro Gonzalez Lazzeri – Skadden; Alec Jarvis – Skadden; Jose Nicolas Perez-Sierra – Skadden;

Law Firms: DLA Piper; Galicia Abogados, S.C; Skadden;

Clients: Alsea, S.A.B. de C.V.; Bank of America Securities; BBVA Securities Inc.; BCP Securities; MUFG Securities Americas Inc. ; Rabo Securities; Santander Investment Securities Inc.; Scotia Capital Inc.; SMBC Nikko Securities America;

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Author: Ambrogio Visconti